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Technology Stocks : BLUEFLY.COM(BFLY)

BFLY 2.910

+8.0%

Nov 3 3:59 PM EST

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To: Still Rolling who wrote (440)	10/5/1999 12:55:00 PM
From: Joe Casey	of 487

Hey Craig, Here's my simplistic interpretation of the past few days events. I've seen this happen way to often with BFLY. Day traders got wind that an announcement was forthcoming from the company (how the heck do they get these leaks?) and bid up the stock late Friday. The problem is, none of the day traders actually knew what the press release would be about. Thus, when the news came out early Monday that it was just a content partnership with Elle Magazine, the stock opened around a point below its Friday close of 10 15/16. Conclusion: Be very skeptical of unexplained upward spikes in this stock, and be somewhat grateful for unexplained downward spikes in this stock (so we can all load the boat). One of these days, the forthcoming news will be better than day traders expected, and the stock will continue to rise until it trades in line with other Inet stocks. That is why day traders continue to jump on BFLY - they ostensibly know that BFLY will be a leader one day....they're just playing with the stock until that day arrives. When it does, the stock will probably be north of 30.

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